Small Business

OVERVIEW

Ready Capital, through its subsidiary Readycap Lending, LLC, is an approved non-bank, U.S. Small Business Administration (SBA) Preferred Lender that provides financing under the SBA 7(a) program, offering secured and unsecured financing nationwide to small business owners.

We provide loans from $350,000 to $5 million, with a track record of successfully navigating the SBA loan process and delivering competitive lending solutions for growing businesses.

We offer entrepreneurs, professionals and business owners the ability to take advantage of flexible terms and competitive loan rates to fund a range of business needs – from start-ups to business acquisitions, real estate, equipment, working capital and more.

Our SBA 7(a) small business loans offer longer terms, lower down payments and more flexibility than other types of business financing, to improve cash flow as you expand or start your business.

Check out our most recent transactions & client testimonials:

$1,975,000
Real Estate Purchase
Small Business
Offices of Podiatrists
25 Year Term
Lewisville, TX
$1,750,000
Real Estate Purchase
Small Business
Tire Dealers
25 Year Term
Reno, NV
$4,080,000
Real Estate Purchase
Small Business
Hotels (except Casino Hotels) and Motels
25 Year Term
Salem, OR
$3,465,000
Business Acquisition
Small Business
Golf Courses and Country Clubs
25 Year Term
Franklin, TN
$425,000
Take- Out Construction
Small Business
Snack and Nonalcoholic Beverage Bars
10 Year Term
Baton Rouge, LA
$1,155,000
Refinance
Small Business
Gasoline Stations with Convenience Stores
25 Year Term
East Dundee, IL
$420,000
Building Improvements
Small Business
Hotels (except Casino Hotels) and Motels
25 Year Term
Shreveport, LA
$4,015,000
Real Estate Purchase
Small Business
Hotels (except Casino Hotels) and Motels
25 Year Term
Shreveport, LA
$350,000
Equipment Purchase
Small Business
Commercial Printing
10 Year Term
Fountain Valley, CA
$900,000
Refinance
Small Business
Elementary and Secondary Schools
25 Year Term
Carlsbad, CA
image
$4,510,000
Real Estate Purchase
Small Business
Flagged Hotel
25 Year Term
Ontario, OR

“I found the process to be extremely efficient and smooth. Every contact I dealt with at each new stage of the process was highly professional, experienced, quick and informative in their responses, and gracious in their guidance. Our dream of becoming arts entrepreneurs would not have come to fruition this soon without the tremendous efforts of everyone at Ready Capital. We are endlessly grateful.”

- Ian
$585,000
Business Acquisition
Small Business
Store Retailers
10 Year Term
Salt Lake City, UT
$733,000
Working Capital
Small Business
Tire and Tube Merchant Wholesalers
10 Year Term
Colorado Springs, CO
$1,150,000
Take-out Construction
Small Business
Caterers
10 Year Term
Torrance, CA

“Making a decision to expand my business was a difficult decision. Identifying a lender to provide funding was easy. Ready Capital’s team had the necessary experience and expertise needed to complete my loan process in a timely and professional manner. From the initial phone call through fund distribution, their team was active in ensuring the process was fully explained and understood.”

- Greg
$900,000
Real Estate Purchase
Small Business
Pet and Pet Supplies Stores
25 Year Term
American Folk, UT
$700,000
Real Estate Purchase
Small Business
Promoters of Performing Arts, Sports, and Similar Events with Facilities
25 Year Term
Payson, UT
$840,000
Real Estate Purchase
Small Business
Child Day Care Services
25 Year Term
Highland Heights, OH
$3,919,000
Construction
Small Business
Full-Service Restaurants
10 Year Term
Long Beach, CA
$4,070,000
Real Estate Purchase
Small Business
Gasoline Stations with Convenience Stores
25 Year Term
Bremerton, WA
$930,000
Refinance
Small Business
Full-Service Restaurants
10 Year Term
Frisco, TX
$3,919,000
Construction
Small Business
Full-Service Restaurants
10 Year Term
Long Beach, CA
$1,224,000
Real Estate Purchase
Small Business
Funeral Homes and Funeral Services
25 Year Term
Marion, KS
CRITERIA

PRODUCT OVERVIEW

  • Closing costs may be financed
  • Equity injection may include seller note or gift funds
  • Working capital may be included
  • Story driven underwriting
  • Low down payment
  • Longer terms
  • More flexibility
  • Fixed rate available for those who qualify
CONTACT

Contact a Production Officer or a member of our production team for more information for your area or market. All of our Production Officers have the ability to lend nationwide. If you need further information, please contact smallbusiness@readycapital.com.

Small Business Development Officers:
Small Business Affinity Team:
Small Business Specialty Finance Team:
Small Business Pacific Northwest Team:
Ready Capital Delivers and Closes Approximately $150 Million Freddie Mac SBL Loans in 17 States and Washington, DC
07/27/2018

NEW YORK, April 22, 2020 (GLOBE NEWSWIRE) — Ready Capital announces the delivery and closing of Freddie Mac SBL loans for approximately $150 million in 17 states and Washington, DC, between January and March 2020. Ready Capital commenced the second quarter pre- Covid-19 with a strong pipeline of $230 million in Freddie Mac SBL loans and continues to work diligently for its clients to process loans amidst challenges in the current environment. Ready Capital continues to participate actively in the program to provide an important source of liquidity to small balance loan multifamily borrowers.

In March, Ready Capital closed the financing for the refinance of a 17-property multifamily portfolio in Los Angeles, CA. The sponsor has owned the properties in the portfolio for a range of 2-18 years. The collateral consists of garden complexes totaling 232 units, with construction dates ranging from 1928 – 1991 and an average occupancy of above 95%. Most of the properties are in the San Fernando Valley. Ready Capital closed the $48.0 million, non-recourse, hybrid loan that features a 20-year term (7 fixed + 13 floating), 30-year amortization and yield maintenance prepay.

In January, Ready Capital closed the financing for the refinance of a 9-unit, multifamily property located in the Linda Vista Submarket of San Diego, CA. The property has been operating at full occupancy since January 2019 and is in a densely populated, infill neighborhood with convenient access to area amenities, schools, shopping, parks, restaurants and businesses. Ready Capital closed the $1.7 million, non-recourse, fixed-rate loan that features a 7-year term, fully interest only and yield maintenance prepay.

In January, Ready Capital closed the financing for the refinance of a 29-unit, Class B, multifamily property located in the South Omaha Submarket of Omaha, NE. The sponsors acquired the asset in 2010 and have invested significant Cap Ex to update the property including bathroom remodeling, counter top replacement, appliance replacement and flooring replacement, among others. The property has a strong occupancy history with average tenancy of over 3.5 years. Ready Capital closed the $3.6 million, non-recourse, fixed-rate loan that features a 10-year term, 30-year amortization and yield maintenance prepay.

In January, Ready Capital closed the financing for the refinance of a 27-unit, multifamily property located in the Downtown Submarket of Richmond, VA. Since the acquisition in 2017, the sponsor invested $55,000 on in-unit and building exterior renovations. The property has improved value by 10% due to increased rents and an improved market. Ready Capital closed the $1.9 million, non-recourse, fixed-rate loan that features a 10-year term, 30-year amortization and declining (5,5,4,4,3,3,2,2,1,1) prepay.

In January, Ready Capital closed the financing for the refinance of an 8-unit, multifamily property located in the East Los Angeles/Alhambra/Montebello/Pico Rivera Submarket of Los Angeles, CA. The sponsor originally acquired the property in February 2003 and recently invested approximately $90,000 in renovations. Ready Capital closed the $1.5 million, non-recourse, hybrid-rate loan that features a 20-year term (7 fixed + 13 floating), 30-year amortization and yield maintenance prepay.

In February, Ready Capital closed the financing for the acquisition of an 84-unit, Class B, multifamily property located in Hobbs, NM. The property underwent recent renovations that stabilized the asset. Ready Capital closed the $5.1 million, non-recourse, hybrid-rate loan that features a 20-year term (10 fixed + 10 floating), 30-year amortization and yield maintenance prepay.

In February, Ready Capital closed the financing for the recapitalization of a 24-unit, Class B, multifamily property located in the Sloan Lake Submarket of Denver, CO. The property was purchased via an all-cash transaction in December 2019 and the loan proceeds will be used to recapitalize the transaction. Ready Capital closed the $2.7 million, non-recourse, fixed-rate loan that features a 20-year term (5 fixed + 15 floating), 1-year interest only period, 30-year amortization and yield maintenance prepay.

In February, Ready Capital closed the financing for the acquisition of a 34-unit, Class B, multifamily property located in Hagerstown, MD. The property is an affordable housing, cash flowing asset in a growth-oriented suburb northwest of Washington, DC, and Baltimore, MD. Ready Capital closed the $2.1 million, non-recourse, fixed-rate loan that features a 10-year term, 2-year interest only period, 30-year amortization and declining (5,5,4,4,3,3,2,2,1,1) prepay.

In February, Ready Capital closed the financing for the acquisition of a 72-unit, Class B, multifamily property located in Kilgore, TX. The property is currently 94% occupied and has exhibited a stable rent trend. Ready Capital closed the $4.0 million, non-recourse, fixed-rate loan that features a 20-year term (10 fixed + 10 floating), 2-year interest only period, 30-year amortization and yield maintenance prepay.

In February, Ready Capital closed the financing for the refinance of a 42-unit, multifamily property located in Palm Springs, CA and the Palm Springs/Palm Desert Submarket of San Bernardino/Riverside. Additional cash-out funds are being utilized for upgrades at the property. Ready Capital closed the $3.2 million, non-recourse, hybrid-rate loan that features a 20-year term (5 fixed + 15 floating), 30-year amortization and declining (5,4,3,2,1) prepay.

In February, Ready Capital closed the financing for the acquisition of a 78-unit, multifamily property located in the Northwest Submarket of Cincinnati, OH. The property has operated at consistent and stabilized levels for the past two years, maintaining occupancy above 95%. Ready Capital closed the $2.8 million, non-recourse, fixed-rate loan that features a 20-year term (10 fixed + 10 floating), 1-year interest only period, 30-year amortization and yield maintenance prepay.

In February, Ready Capital closed the financing for the acquisition of a 32-unit, multifamily property located in the Harborside Submarket of New Haven, CT. The sponsor currently owns 11 multifamily properties in the Stamford, CT, and New Haven area. Ready Capital closed the $3.1 million, non-recourse, fixed-rate loan that features a 10-year term, 3-year interest only period, 30-year amortization and yield maintenance prepay.

In February, Ready Capital closed the financing for the refinance of a 30-unit, Class B, multifamily property located in the North Seattle/Northgate Submarket of Seattle, WA. Since December 2017, the sponsors have invested significant Cap Ex to update the property, including the renovation of 22 of the 30 units. Ready Capital closed the $3.5 million, non-recourse, hybrid-rate loan that features a 20-year term (10 fixed + 10 floating), 30-year amortization and yield maintenance prepay.

In February, Ready Capital closed the financing for the acquisition of a 24-unit, Class B, multifamily property located in the Downtown Submarket of Columbus, OH. The seller acquired the property as vacant land in September 2013 with improvements constructed in 2015. Ready Capital closed the $2.8 million, non-recourse, fixed-rate loan that features a 10-year term, 30-year amortization and yield maintenance prepay.

In February, Ready Capital closed the financing for the refinance of a 6-unit, multifamily property located in the Mid-City W Adams Submarket of Los Angeles, CA. Since acquisition, the sponsor invested approximately $150,000 to renovate most of the units. Ready Capital closed the $1.7 million, non-recourse, hybrid-rate loan that features a 20-year term (5 fixed + 10 floating), 1-year interest only period, 30-year amortization and yield maintenance prepay.

In February, Ready Capital closed the financing for the acquisition of a 13-unit, Class B, multifamily property located in the Capitol Hill Submarket of Washington, DC. The property is a fully occupied, stable and cash-flowing asset. Ready Capital closed the $3.0 million, non-recourse, hybrid-rate loan that features a 20-year term (10 fixed + 10 floating), 1-year interest only period, 30-year amortization, and yield maintenance prepay.

In February, Ready Capital closed the financing for the acquisition of a 56-unit, Class B, multifamily property located in Decatur, AL. The seller has invested significant capital improvements into the property since 2015, and the property is currently operating at 95% occupancy. Ready Capital closed the $3.0 million, non-recourse, fixed-rate loan that features a 10-year term, 2-year interest only period, 30-year amortization and yield maintenance prepay.

In March, Ready Capital closed the financing for the refinance of a 12-unit, multifamily property located in the Aurora-North Submarket of Aurora, CO. The sponsor purchased the property in 2018 and immediately renovated 10 of the 12 units. Ready Capital closed the $1.3 million, non-recourse, hybrid loan that features a 20-year term (5 fixed + 15 float), 30-year amortization and declining (3,1,0,0,0) prepay.

In March, Ready Capital closed the financing for the acquisition of a 68-unit, multifamily property located in the Hanover County Submarket of Richmond, VA. The property is currently operating at 100% occupancy. Ready Capital closed the $5.8 million, non-recourse, fixed-rate loan that features a 10-year term, 3-year interest only period, 30-year amortization and declining (5,5,4,4,3,3,2,2,1,1) prepay.

In March, Ready Capital closed the financing for the refinance of a 10-unit, Class B, multifamily property located in Tacoma, WA. The property was constructed in 2015 by the sponsor. Ready Capital closed the $2.1 million, non-recourse, hybrid-rate loan that features a 20-year term (7 fixed + 13 floating), 30-year amortization and yield maintenance prepay.

In March, Ready Capital closed the financing for the refinance of an 18-unit, Class B, multifamily property located in the Arvada/Broomfield Submarket of Denver, CO. The sponsor has invested over $100K since acquisition. Ready Capital closed the $1.6 million, non-recourse, hybrid-rate loan that features a 20-year term (5 fixed + 15 floating), 30-year amortization and yield maintenance prepay.

In March, Ready Capital closed the financing for the refinance of a 48-unit, multifamily property located in the Northglenn/Thornton Submarket of Denver, CO. The sponsor has owned the property for over 10 years and has seen value increase through major market growth and renovations. Ready Capital closed the $4.5 million, non-recourse, hybrid loan that features a 20-year term (7 fixed + 13 floating), 30-year amortization and yield maintenance prepay.

In March, Ready Capital closed the financing for the acquisition of a 14-unit, multifamily property located in Renton, WA. The property just completed a $470K rehabilitation and is now stabilizing. Ready Capital closed the $2.4 million, non-recourse, hybrid-rate loan that features a 20-year term (7 fixed + 13 floating), 30-year amortization and yield maintenance prepay.

In March, Ready Capital closed the financing for the refinance of a 12-unit, multifamily property located in Gaithersburg, MD and the Gaithersburg/Germantown Submarket of Washington, DC. The sponsor purchased the property in April 2017 and has since invested significant capital improvements to the property. The property is a stable, affordable housing asset just north of Washington, DC. Ready Capital closed the $1.5 million, non-recourse, fixed-rate loan that features a 10-year term, 30-year amortization and yield maintenance prepay.

In March, Ready Capital closed the financing for the refinance of an 8-unit, multifamily property located in the City West Submarket of Chicago, IL. The property was originally acquired in June 2017 and underwent a complete renovation in 2019 including the development of two retail suites located on the ground level of the complex. Ready Capital closed the $3.5 million, non-recourse, fixed-rate loan that features a 7-year term, 30-year amortization and yield maintenance prepay.

In March, Ready Capital closed the financing for the refinance of a 21-unit, Class B, multifamily property located in the Kennesaw/Town Center Submarket of Dallas, GA. The property was constructed in 1996 and consists of a 2-story building, situated on 1.20-acre site. Ready Capital closed the $1.8 million, non-recourse, fixed-rate loan that features a 10-year term, 30-year amortization and declining (3,3,3,2,2,2,1,1,1,1) prepay.

In March, Ready Capital closed the financing for the refinance of a 14-unit, Class B, multifamily property located in Tacoma, WA. The loan will provide the borrower with liquidity and ability to improve the units. Ready Capital closed the $1.5 million, non-recourse, hybrid-rate loan that features a 20-year term (10 fixed + 10 floating), 30-year amortization and yield maintenance.

In March, Ready Capital closed the financing for the acquisition of a 160-unit, multifamily property located in Longview, TX. The loan sponsor was a repeat Ready Capital and Freddie Mac borrower and located out of state. The sponsor engaged a local property management company with over 15 years of experience and currently managing over 140 multifamily properties across 14 states. Ready Capital closed the $4.8 million, non-recourse, hybrid-rate loan that features a 20-year term (10 fixed + 10 floating), 2-year interest only period, 30-year amortization and yield maintenance.

In March, Ready Capital closed the financing for the acquisition of a 12-unit, Class B, multifamily property located in the East Little Havana Submarket of Miami, FL. The property is currently operating at 100% occupancy. Ready Capital closed the $1.6 million, non-recourse, hybrid-rate loan that features a 20-year term (7 fixed + 13 floating), 30-year amortization and declining (5,5,4,4,3,2,1) prepay.

For more information, contact:
Matt Hillyer, matt.hillyer@readycapital.com
Executive Director – Chief Credit Officer

About Ready Capital:

Ready Capital (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans. Our National Bridge Originations team offers non-recourse financing on transitional, value-add and event-driven commercial and multifamily real estate opportunities. Ready Capital is a direct lender that provides comprehensive financing solutions to real estate owners, investors and small business owners, which generally range in original principal amounts between $2 – $45 million and larger for select assets and portfolios.

This press release contains statements that constitute “forward-looking statements,” as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; the Company can give no assurance that its expectations will be attained. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/b0d0f3f0-8521-402e-b90c-cb3da9feaec6

https://www.globenewswire.com/NewsRoom/AttachmentNg/f18cc7d5-7eaf-442b-aa4c-6321ca5d9973

https://www.globenewswire.com/NewsRoom/AttachmentNg/97ec8fc1-6f24-4a5e-99dd-a4806a292cc2

https://www.globenewswire.com/NewsRoom/AttachmentNg/ec2b0fc0-313b-4322-bbc9-e0b1e6f12347

https://www.globenewswire.com/NewsRoom/AttachmentNg/c4a5578d-41ed-43ac-944f-eb6106c4dfa4

https://www.globenewswire.com/NewsRoom/AttachmentNg/601377ae-7309-4671-bdac-24359352ea44

https://www.globenewswire.com/NewsRoom/AttachmentNg/e474705a-259a-40b8-a41c-725b34665ee9

https://www.globenewswire.com/NewsRoom/AttachmentNg/38dd25e5-3f3e-4c81-a9ff-6196d7548b4b

https://www.globenewswire.com/NewsRoom/AttachmentNg/3a8420b7-f95c-4bf9-baa4-86255034adb3

https://www.globenewswire.com/NewsRoom/AttachmentNg/fda05661-f807-4813-af70-32fb7c536c15

https://www.globenewswire.com/NewsRoom/AttachmentNg/48a59d4b-f0b0-4ad0-a687-a9ce3a2ab0dc

https://www.globenewswire.com/NewsRoom/AttachmentNg/67f25e25-544c-48ef-8cc8-dabf96fdf226

https://www.globenewswire.com/NewsRoom/AttachmentNg/6c48e693-98e8-40ea-ba69-5f43a31394a8

https://www.globenewswire.com/NewsRoom/AttachmentNg/ebd4b991-5f83-4a39-9a30-4d3a81ad0995

https://www.globenewswire.com/NewsRoom/AttachmentNg/89c349b5-55f9-4996-9cf6-e17e21237e52

https://www.globenewswire.com/NewsRoom/AttachmentNg/2ed5d9ad-5746-43bc-8333-fb4e4c4d17c5

https://www.globenewswire.com/NewsRoom/AttachmentNg/3a4a090f-1076-4c24-93c7-fbd6c26d03ec

https://www.globenewswire.com/NewsRoom/AttachmentNg/6bf77aa1-d3ab-4a0f-b5ae-104b9aa8248b

https://www.globenewswire.com/NewsRoom/AttachmentNg/c80d0764-f7a2-4d69-8674-c18149ba8713

https://www.globenewswire.com/NewsRoom/AttachmentNg/3a7358e4-49c2-4529-8761-df9d376806db

https://www.globenewswire.com/NewsRoom/AttachmentNg/d88062bc-f809-4453-82cb-31cbbadb64df

https://www.globenewswire.com/NewsRoom/AttachmentNg/ba94102b-95ae-4e6d-86d2-90332359d83f

https://www.globenewswire.com/NewsRoom/AttachmentNg/198234b1-c155-4656-a133-13d8c14d5084

https://www.globenewswire.com/NewsRoom/AttachmentNg/5d7ee652-82f2-455a-9c8a-4ca581eba3fe

https://www.globenewswire.com/NewsRoom/AttachmentNg/b821ecfe-92a2-458f-a393-967dd008465b

https://www.globenewswire.com/NewsRoom/AttachmentNg/201746be-b966-48a2-83c8-fdd48e0c73b7

https://www.globenewswire.com/NewsRoom/AttachmentNg/28c37f13-d34c-4c82-a05d-618926271ffc

https://www.globenewswire.com/NewsRoom/AttachmentNg/487ac60d-bdce-4ed2-a6f0-b4f1bcded905

https://www.globenewswire.com/NewsRoom/AttachmentNg/775328be-d63b-40cd-9ca9-34149b463273

CAREERS

Interested in working with one of the fastest growing commercial mortgage REIT’s in the industry?

Ready Capital is always looking to add experienced and driven professionals to expand and grow with our company. We are continually searching for experienced professionals within the industry by offering a work environment thriving on collaboration and a corporate culture of employees who are passionate and excited about what they do.

Find out what job positions are open in your area.

SUBMIT A REQUEST

Connect with us and request a quote to see what product best fits your needs. A product representative will be in touch with you shortly.